Industry Leaders Join VIDA in the Fight to Preserve Affordable Housing

HALIFAX, NS, March 24, 2025 /CNW/ - VIDA's Canadian NOAH Preservation Fund proudly welcomes three nationally respected real estate and capital experts – Donald Clow, Paul Finkbeiner and Adam Jagelewski – to its advisory committee. These distinguished professionals join VIDA Founder and CEO Ron Lovett on his mission to combine purpose and profit while preserving affordable housing for working class Canadians. 

Canadian Olympic sprinter Andre De Grasse sees the impact of VIDA during a recent community tour. (CNW Group/VIDA)

With affordable apartments disappearing faster than new ones can be built, VIDA has responded by launching the Canadian NOAH (Naturally Occurring Affordable Housing) Preservation Fund. This closed-end equity fund aims to raise $300 million to acquire and preserve over 7,000 affordable housing units across the country. This marks VIDA's second major fundraising initiative since it was formed in 2018, having acquired over 3,000 units from Halifax to Winnipeg. VIDA's operating model balances sustained revenue growth with strategic cost management to deliver strong financial results alongside social impact.  

"The Canadian NOAH Preservation Fund is a game-changer for institutional and accredited investors who seek Core Plus returns wrapped in impact," says Ron Lovett. "We're honoured to have industry leaders like Donnie, Paul and Adam join us in seizing the opportunity presented by a real estate sector that is fragmented, inefficient and disconnected from the customer. There's never been a better time to be bold and support Canadians in getting ahead. The fight to preserve affordable housing is on, and we're proud to lead the charge." 

Advisory Committee Members:

Donald Clow, is the Independent Lead Trustee of H&R REIT. He served as President and CEO of Crombie REIT, President of ECL Developments Ltd. and President / Minority Owner of Southwest Properties Ltd. Recognized as Waterstone's Most Admired CEO in Canada (Mid-Market) in 2023, Mr. Clow is also an inductee of Atlantic Canada's Top 50 CEOs Hall of Fame.

Paul Finkbeiner, is the President of Fink Advisory Management Corp, providing strategic investment guidance to real estate companies, including startups and proptech firms. Previously, Mr. Finkbeiner oversaw global investments at Great-West LIFECO Inc. and served as President and COO of GWL Realty Advisors. 

Adam Jagelewski, is the Managing Partner at TwinRiver Capital and a Co-Founder of MaRS Centre for Impact Investing. Mr. Jagelewski is a pioneer in impact financing, having advised top social enterprises and governments on capital strategies. 

About VIDA: 

VIDA has acquired over 3,200 units across 240 buildings in Nova Scotia, New Brunswick, Prince Edward Island and Manitoba. VIDA's mission is to revolutionize affordable communities by reimagining the way people interact with their housing. It's about more than buildings – it's about tapping into people and their potential. By getting people actively involved in sustaining the community they want to live in, VIDA creates jobs, keeps costs low, preserves affordability and helps people get ahead. VIDA is a Certified B Corp. www.vidaliving.ca 

Disclaimer The information provided in this release is for informational purposes only. Under no circumstances is this document to be construed as an offer to sell securities or the provision of advice in relation to any securities. Any offer or sale of any securities referenced in this document will be made pursuant to the Canadian NOAH Preservation Fund's offering documents to eligible investors who qualify as "accredited investors" under applicable Canadian securities laws. The fund described herein is not intended for investors outside of Canada. In addition, any offer or sale of, or advice related to, any securities referenced in this document will be made only in accordance with dealer registration requirements under applicable Canadian securities laws. No Canadian securities regulatory authority has reviewed or in any way passed upon the information contained in this document or the merits of any securities referenced in this document. Statements that depend on future events are forward-looking statements. Forward-looking statements, including statements regarding the fund's objectives and returns, are not guarantees of performance. They involve risks, uncertainties, and assumptions. These statements may be based on assumptions that are believed to be reasonable, however there is no assurance that actual results may not differ materially from expectations. Readers should not rely solely on forward-looking statements.

SOURCE VIDA

For more information on the Canadian NOAH Preservation Fund, please contact Joel Goodman, Media Relations at VIDA: [email protected]